Hormonal Contraceptives Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Hormonal Contraceptives Market Analysis
The hormonal contraceptives market is poised to grow at a CAGR of 4% over the forecast period.
COVID-19 impacted the studied market. For instance, the article titled "Did COVID-19 Impact Contraceptive Uptake? Evidence from Senegal, West Africa" published in Studies in Family Planning in April 2022 stated that during the first wave of COVID-19 in March 2020, there was an immediate decrease in the number of new acceptors overall, and for new users of implants and injectables and oral contraceptive pills (OCPs). The overall trend in monthly new family planning acceptors increased from March – December 2020. Hence COVID-19 had an adverse impact in the beginning but as the situation worldwide normalized, the hormonal contraceptive market started to pace up.
In addition, increasing focus on family planning, favorable regulations by the government, and advancements in hormonal contraception are actively affecting the growth of the studied market.
The need to prevent unintended pregnancy and urbanization coupled with user awareness is projected to boost market growth over the forecast period. For instance, The Department of Economic and Social Affairs, World Fertility and Family Planning 2020 report, stated that globally, women have fewer babies, but fertility rates were high in some parts of the world. The 2030 Agenda for Sustainable Development has a goal that is pertinent to family planning and fertility under objective, which comprises a number of aims to protect the population's health and well-being. In accordance with Target 3.7, all people is likely to have access to family planning, informational and educational materials, and programs that incorporate reproductive health into national policies and plans by the year 2030. Thus, the awareness and government initiatives on family planning is likely to results in an increased demand of contraceptives, which is ultimately projected to boost the market.
Furthermore, the article titled "The United States Government and International Family Planning & Reproductive Health Efforts" published in Kaiser Family Foundation in November 2021 stated that worldwide, 218 million women have an unmet need for modern contraception. The high demand of contraceptive worldwide is anticipated to boost the market during the forecast period.
The company's efforts in producing innovative hormonal contraceptives and enhanced efficiency are anticipated to boost the usage of hormonal contraceptives in the near future. For instance, in April 2021, the Food and Drug Administration approved a combination of drospirenone and estetrol tablet Nextstellis marketed by Mayne Pharma for preventing pregnancy, one of the first combination pills containing naturally occurring estrogen. Such approvals are projected to augment the market growth.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, the availability of alternative contraceptive methods and health risks associated with hormonal contraception are likely to impede market growth.
Hormonal Contraceptives Industry Segments
As per the scope of the report, hormonal contraceptives are one of the birth control methods that act on the endocrine system. This includes using hormones such as progesterone and estrogen to prevent pregnancy by preventing ovulation. The report covers contraceptives that contain hormones, prevents ovulation and pregnancy, and maybe pharmaceutical or medical device. The Hormonal Contraceptive Market is segmented by Product (Oral Contraceptives, Skin Patches, Intrauterine Devices, Hormonal Implants, and Others), Hormone (Progestin Only and Combined Hormone Contraceptives), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
|Combined Hormone Contraceptives|
|By Distribution Channel|
Hormonal Contraceptives Market Trends
This section covers the major market trends shaping the Hormonal Contraceptives Market according to our research experts:
Oral Contraceptive is Expected to Witness Growth Over The Forecast Period.
An oral contraceptive is a pill also called a birth control pill. Oral contraceptive contains hormones that block the release of eggs from the ovaries and prevent pregnancy. Most oral contraceptives include estrogen and progestin.
Oral contraceptive hormonal pills are expected to have a significant share owing to ease of use and availability. In addition, companies focusing on new product launches and advancing the combination of hormonal contraceptives are likely to bolster segment growth. For instance, in July 2022, Perrigo Company Plc submitted its application to the United States Food and Drug Administration for one of the first over-the-counter (OTC) birth control pills in the United States. The company has applied for an Rx-to-OTC switch for Opill, a progestin daily birth control pill. The increasing innovations in oral contraceptives are projected to boost market growth.
According to the United Nations Contraceptive Use by Method, 2019 study, a single method accounts for 50% or more of all contraceptive use in at least one out of every five nations or regions. The dominant technique in 2019 included using the contraceptive pill in 13 of the 37 countries or regions where it accounted for 50% or more of all uses. The high usage of oral contraceptive is projected to augment the segment growth during the forecast period.
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North America Expected to Dominate Hormonal Contraceptive Market Over The Forecast Period.
North America is expected to dominate the market owing to factors such as the high adoption of hormonal contraceptives, the strong presence of industry players in the region, and better healthcare infrastructure.
The article titled "The United States Government and International Family Planning & Reproductive Health Efforts" published in Kaiser Family Foundation in November 2021 stated that the United States is one of the largest purchasers and distributors of contraceptives internationally. In FY 2020, United States Family planning and Reproductive health funding totaled USD 608 million, including funding for the United Nations Population Fund (UNFPA). It highlights the initiatives taken by the government and awareness among the people for family planning which is ultimately projected to boost the market growth in the region.
Furthermore, in 2019, the Government of Canada made a 10-year commitment to reach an average of USD 1.4 billion in funding annually by 2023 to support women’s, children’s, and adolescents’ health worldwide. USD 700 million of this funding is dedicated to sexual and reproductive health and rights (SRHR). The initiative is expected to work on the awareness of the use of contraceptives and reproductive health services.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
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Hormonal Contraceptives Market Competitor Analysis
The hormonal contraceptives market is fragmented in nature due to the presence of a few companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. The key market players are Allergan plc, Afaxys, Inc., Merck & Co., Inc., Pfizer Inc., Viatris Inc (Mylan N.V.), Bayer AG, Agile Therapeutics, Novartis AG, Johnson & Johnson Private Limited, and Piramal Enterprises Ltd. among others.
Hormonal Contraceptives Market Top Players
Merck & Co., Inc.
*Disclaimer: Major Players sorted in no particular order
Hormonal Contraceptives Market Recent Developments
- In July 2022, Mayne Pharma Group Limited and Mithra Pharmaceuticals, SA launched NEXTSTELLIS (14.2 mg of estetrol and 3 mg drospirenone tablets), one of the first types of such oral contraceptive with a novel estrogen in Australia.
- In January 2022, the National Population and Family Planning Agency launched progestin, a safe birth control pill for nursing mothers for breastmilk production and encourage exclusive breastfeeding, which can help avoid infant stunting.
Hormonal Contraceptives Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Focus on Family Planning and Favorable Regulations by Government
4.2.2 Advancements in Hormonal Contraception
4.3 Market Restraints
4.3.1 Availability of Alternative Contraceptive Methods
4.3.2 Health Risks Associated With Hormonal Contraception
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Oral Contraceptives
5.1.2 Skin Patches
5.1.3 Intrauterine Devices
5.1.4 Hormonal Implants
5.2 By Hormone
5.2.1 Progestin Only
5.2.2 Combined Hormone Contraceptives
5.3 By Distribution Channel
5.3.1 Hospital Pharmacies
5.3.2 Retail Pharmacies
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Allergan plc
6.1.2 Afaxys, Inc.
6.1.3 Merck & Co., Inc.
6.1.4 Pfizer Inc.
6.1.5 Mylan N.v.
6.1.6 Bayer AG
6.1.7 Agile Therapeutics
6.1.8 Novartis AG
6.1.9 Johnson & Johnson
6.1.10 The Piramal Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Hormonal Contraceptives Market Research FAQs
What is the study period of this market?
The Global Hormonal Contraceptives Market is studied from 2018 - 2028.
What is the growth rate of Global Hormonal Contraceptives Market?
The Global Hormonal Contraceptives Market is growing at a CAGR of 4% over the next 5 years.
Which region has highest growth rate in Global Hormonal Contraceptives Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Global Hormonal Contraceptives Market?
North America holds highest share in 2021.
Who are the key players in Global Hormonal Contraceptives Market?
Allergan plc, Afaxys, Inc., Merck & Co., Inc., Pfizer Inc., Mylan N.V. are the major companies operating in Global Hormonal Contraceptives Market.
Global Hormonal Contraceptives Industry Reports
In-depth industry statistics and market share insights of the Global Hormonal Contraceptives sector for 2020, 2021, and 2022. The Global Hormonal Contraceptives research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Global Hormonal Contraceptives report PDF.